Audience: Landlords & Property Managers
The Property Projections screen was actually the first webpage in the Housters website, and the driving reason for creating Housters. We were just purchasing our first rental properties, and had a spreadsheet that we used to calculate whether a given property would be a good investment or not. We decided to create a webpage to calculate everything for us, and Housters was born.
If you want to run Projections on a Property, first add the Property and set the Status to “Interested in Purchasing”. After you save the Property, you can go to the Projections screen and input the expected Purchase Price, Mortgage Terms, Income from Rent, and Expenses.
After inputting your best estimates, Housters will calculate the following:
- Gross Annual Rent
- Annual Operating Costs
- Annual Cash on Cash Invested %
- Net Operating Income (NOI)
- Gross Rent Multiplier (GRM)
- Annual Cash Gain
- Annual Networth Gain
You can then use those figures to determine whether the rental property is worth purchasing or not.